Tax Credit Model Y

[Elias5414]

I’m upgrading from a Model 3. I have a Model Y on order. It was supposed to be delivered in June. I received notification that it is ready early for delivery in early January. Does anyone know if build back better is passed after I take delivery will it cover the entire 2022 tax year? Or will it only cover vehicles that are purchased after it’s passage? I’m trying to determine if I try to push out delivery or keep it as scheduled.

 

[Ron J.]

At this time no one can know what may actually pass in terms of new tax credit for EVs, if any version does pass. There have been draft versions that make the tax credit retro-active to 1/1/22 while another version would make the tax credit only apply from the date the bill becomes law (i.e., approved by congress and signed by the President).

 

[BGOwner]

I’m upgrading from a Model 3. I have a Model Y on order. It was supposed to be delivered in June. I received notification that it is ready early for delivery in early January. Does anyone know if build back better is passed after I take delivery will it cover the entire 2022 tax year? Or will it only cover vehicles that are purchased after it’s passage? I’m trying to determine if I try to push out delivery or keep it as scheduled.

Not really possible to say. IF, it passes, my guess is it will be effective Jan 1, 2022 as written in the latest draft of the BBB

 

[Elias5414]

At this time no one can know what may actually pass in terms of new tax credit for EVs, if any version does pass. There have been draft versions that make the tax credit retro-active to 1/1/22 while another version would make the tax credit only apply from the date the bill becomes law (i.e., approved by congress and signed by the President).

Thank you! I couldn’t find that information anywhere I looked. This helps me realize I’m making the right decision to pause my order because it’s still up in the air.